I came across an interesting article over the weekend posted on the Business Insider website. Now, I don't know if I actually agree with everything it says, but it makes a good point and I thought I'd share it with you (Don't you feel special?). The article basically states that one of the reasons people ages 18-34 are broke is because they check Facebook more than they do their actual bank accounts. I won't bore you with discussing the whole article but I thought I'd key in on a few points that I found pretty interesting. Here we go!
We check Facebook a lot
According to this article, 54 percent of 18-34 year olds check their profiles at least once a day. I would have imagined the number was larger, but still, out of those people who check, it's not just once a day. On average, we check our social media an average of 7.5 times per day. HOLY COW! That seems like a ton to me. I am on Facebook quite a bit, but on the other hand, I am also paid to be a social media updater. If you figure you spend about 15 minutes per check on Facebook (which I don't think is too far fetched), that means the average person wastes about two hours per day on social media sites . That's a lot of Facebooking! Okay, so on the contrary, how much do we check our bank accounts?
We don't nearly as much
On the other side of things, out of the same age group, it was established that only 17 percent of us check our accounts on a daily basis. It's a little funny when you think about it. We're more apt to check social media, pictures and status updates that probably hold no grasp on our future, then checking our bank accounts. Some people go weeks without looking to see how much is in their savings accounts. Now, I may be crazy, but I would think that your money is slightly more important than the fact that your friend just uploaded a picture of their cute little dog.
What does this mean?
Well, it means that people tend to be more invested in social media then they are on their financial future. Okay, I could be taking that a little too far. Facebook updates second by second and my bank account does a few times a week. It's definitely more appealing to check out the latest updates on social media then to stare at a checking account that isn't going up or down. Still, I find time to check my account generally once a day to make sure I have money in both my checking and savings. Overdrawing is not pleasant, and I try to not make a habit of it.
If you fall under the category of someone who is more invested in social media than your financial accounts, you may want to make sure you're at least checking once or twice a week to make sure your money is still how you left it. Checking Facebook a ton is probably not going to get you anywhere. If anything, it may leave you a little more depressed then you were (don't laugh...they are doing studies) and off to go spend money to make you feel better about yourself.
What's your opinion?